American software company Ebix has acquired Yatra for an enterprise value of $337.8 million (₹2,323.6 crore) in an all-stock deal, the companies announced on July 17. Yatra will continue to operate independently and will retain its brand, as per Mint. In a call with investors, Ebix CEO Robin Raina said that the acquisition would help the company become the largest enterprise financial exchange in the Asian subcontinent. Ebix said it's targeting revenue between $145-$150 million a quarter by the end of 2019. Ebix aims to launch an IPO in India in Q2 of FY2019. What the merger will do Raina said that the merger: will give Ebix “tremendous” purchase power with your providers will give Ebix tremendous purchase power with the tourism departments of countries. “… travel companies do well on they get tourism department of various countries to provide subsidized some of our marketing providing us hard dollars [sic]" puts Ebix in a "strong position from a perspective of cross-selling opportunities which no other travel provider over any other player, since Ebix has presence in Forex, prepaid cards, and MICE". Ebix wants to be a one-shop-stop travel service provider Raina spoke about Ebix providing a one-stop-shop, single-window approach for all services required around travel: We would be the only provider who would be able to say, look, if you want to fly, let’s say, from Mumbai to Rome, we’re the only one who will say, look, I’ll get you the visa. I’ll be able to get you the visa.…
- Explained: The G20 Task Force On Digital Public Infra for Economic Transformation, Financial Inclusion & Development April 1, 2023
- MediaNama Daily: The Great Indian Surveillance Spectacle April 1, 2023
- Are Courts Doing Enough To Question “Proportionate” Intrusions on Privacy And Other Rights? #NAMA March 31, 2023
- Why did PhonePe cancel its deal to acquire ZestMoney? March 31, 2023
- RTI: Chennai police confirms 9 drones as part of a Drone Police Unit and here’s why it’s important March 31, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...